Single-Story Warehouse with
For Sale
$399,000
528 E Broadway, Alton, IL 62002
Commercial Sale, Alton, IL
Property Size4,037 SF
Lot Size0.16 Acres
Price / SF$98.84
Days on Market76
Property Features for 528 E Broadway
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Alton City Proper
Standard status
Active
APN
23-2-07-14-08-203-008
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1541
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Building materials
Brick
Listing Agency:
RE/MAX Alliance · RE/MAX International
(618) 466-7100
Listed By:
Lisa Funk · License #471000228
(618) 910-3865
Added: Jul 26
Changed: Sep 25
Last Checked: Oct 9 at 11:06PM
MLS# 26019022
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story warehouse contains 4,037 square feet within a 60 x 113 lot. The brick building has central air, forced-air heating, public water, and a newly installed insulated TPO roof. An enclosed rear courtyard adds approximately 5,000 ft of outdoor area.
The property is located at 528 E Broadway in Alton, across from event activity along the Alton Riverfront. A setback from Broadway separates the building from the street, while the frontage area provides additional outdoor space that could support parking, patio use, or a garden center. The property is within the Alton TIF District.
The property is located at 528 E Broadway in Alton, across from event activity along the Alton Riverfront. A setback from Broadway separates the building from the street, while the frontage area provides additional outdoor space that could support parking, patio use, or a garden center. The property is within the Alton TIF District.
Key Highlights
- 4,037‑square‑foot single‑story warehouse on a 60 x 113 lot
- New insulated TPO roof
- Enclosed 5,000 ft exposed courtyard at the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,254
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,080
$405.1K
Cap Rate 7%
$289,343
$289.3K
Cap Rate 9%
$225,044
$225.0K
Market Conditions
NOI Build-Up for 4,037 SF
Gross rent
$24.5K $6.06/SF
− Vacancy
−$636 −$0.16/SF
EGI
$23.8K $5.90/SF
− OpEx
−$3.6K −$0.89/SF
NOI
$20.3K $5.02/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$6.06 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,080
Cap Rate 7%
$289,343
Cap Rate 9%
$225,044
Alternative Uses
Best Use
Warehouse
$289.3K
$253.2K – $337.6K
NOI $20,254 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$962.8K – $1.28M
NOI $77,026 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Hanover Associates Storage — 1439 Pearl St, Alton, IL 62002
Frequently Asked Questions
What type of property is this?
Warehouse - Brick warehouse with a new insulated TPO roof and enclosed rear courtyard.
Where is this warehouse located?
The property is located at 528 E Broadway Alton, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 4,037‑square‑foot single‑story warehouse on a 60 x 113 lot; New insulated TPO roof; Enclosed 5,000 ft exposed courtyard at the rear
